Annuities are investments where, in exchange for a single payment, a life insurance company provides the annuitant with regular income payments, generally for the rest of the annuitant’s life.
CANNEX provides annuity quotations and surveys on behalf of companies representing more than 99% of annuities issued in Canada. CANNEX sells software, customized to the specific requirements of an insurance company, that performs annuity calculations.
Annuity Services Information Sheet (pdf)
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CANNEX provides services that allow brokers and agents to survey and quote all the companies in the annuity market they deal with—from their own intranet or extranet.
CANNEX provides services that allow insurance companies to quote annuities on their own web site.
CANNEX sells software, customized to the specific requirements of an insurance company, that performs annuity calculations.
The key to the accuracy and timeliness of the annuity quotations and surveys provided by CANNEX is that participating companies provide CANNEX with their mathematical algorithms used to calculate annuity values. CANNEX reprograms these algorithms onto the CANNEX System and each company maintains their own parameters (e.g. interest rates) on CANNEX. Quoting from first principles enables CANNEX to maintain accuracy to seven significant digits while quoting any annuity type or specification. Most companies fully guarantee the accuracy of annuity quotes provided on their behalf by CANNEX.
Users enter specific data about the annuitant(s) (e.g. date of birth, gender and province of residence) and detail the exact annuity required (e.g. indexing rate, certain period). CANNEX then calculates an apples-to-apples comparative survey—instantly.
* For information about subscribing to the data services provided by CANNEX click here.
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indicates a free survey.